WEBSITE:
www . nbcwashington . com/news/business/Websites_Scamming_Homeowners_Facing_Foreclosure.ht ml?corder=&pg=1
(clear spaces)

You may want to read this as it may help answer questions.

I need to do a loan modification myself but am so afraid of being

scammed.

I copied and pasted the following from the website:


Ray Saturday, Feb 14 at 7:20 PM
J.W. Financial Solutions, Inc. Charges $3,500 up front for their "modification" services.

As of this date I don't know of anyone they've actually helped, they don't supply any testimonials.

I've been waiting 5 months an still nothing. They say if they haven't accomplished a "modification"

for you within 12 months they will refund your money. Let say that actually do refund your money,

imagine how much money they could make on the up front money that they collected up front

for 12 months. 500 loan applications at $3,500 per application is $1,750,000. If they just make

some nice investments they could conservatively make $200,000 plus. They probably have a couple

thousand loans apps so they've probably raked in a cool $8,750,000 just in applications. Nice Racket!

I hope that my rant is without merit but the longer this goes on the more pessimistic

I become that they are legit. I've never heard from anyone that its actually worked for

and they've never produced and testimonials!

If you have been the victim of loan modification crime, meaning if you paid up front fees to loan mod company and were burned or didn't get results, KNOW YOUR RIGHTS! It is illegal in many states for these outfits to operate, often these companies do work in good faith but they are still breaking the law without even being aware of it. If loan modification fraud has happened to you, YOU HAVE RECOURSE. A number has been setup for victims so they can be put in touch with attorneys who can help recover the money they paid at NO COST. Call the loan fraud recovery center toll free at 800-991-6504 or visit loanfraudrecovery .org Also, be sure to contact your local better business bureau office to alert them about the loan mod scam company and their activities.

@ Clay Carter, thank you for your post, however what you say is not exactly accurate, you state -

Quote:

who can help recover the money they paid at NO COST.

Yet their site states, "The lawyers' services are provided on a 100% Contingency basis. In other words, you will NOT BE CHARGED ANY FEES unless your lawyer is able to obtain a recovery for you"
IE, they WILL charge if they recover any of your money, a different thing altogether .

How much of the money recovered is then taken by the lawyers? What percentage?

I would ask that ANYONE caught in this situation, check with their local better business bureau or office of fair trading etc and get ALL the information first .
Before deciding what action to take .


@Clay Carter, you also forgot to mention that you are from "loanfraudlegalhelp.com"
Not very professional ! If you want to help our members then the truth would be an asset, I would think. Including full disclosure.

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Can anyone give me some advice on what to do next. J.W financial is still insisting that he is trying to get our home. In the mean time the new owners have moved in and because of their promises we have even our dog and our birds. The dog had to go to the pound and my little parakeets have died due to stress from acclamation.

@Jane Doe, Welcome to 419legal. At this stage it could be a good idea to contact either your local Better Business bureau or California Department of Consumer Affairs. Home - California Department of Consumer Affairs. Who I believe cover your area?

If you can contact them and ask for assistance regarding your particular problem they may be able to help you.
failing that you could contact your local government representative for guidance.

You could also contact the mayor's office and I am sure - Mayor Jim Ridenour or one of the officials could point you in the right direction.

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Did your get you loan mod done? Attorney that do mod will take a retainer same as if when you are seekiing legal services.

Quote:

Originally Posted by CntrlVllyCA WEBSITE: www . nbcwashington . com/news/business/Websites_Scamming_Homeowners_Facing_Foreclosure.ht ml?corder=&pg=1 (clear spaces) You may want to read this as it may help answer questions. I need to do a loan modification myself but am so afraid of being scammed.

This is kinda late to ask if you got you loan mod.